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PhonePe Appoints Ritesh Pai As CEO Of Global Payments Business

Ritesh has been a supporter of the company since its initial days. Previously, he was the president of products and solutions at TerraPay

PhonePe Appoints Ritesh Pai As CEO Of Global Payments Business
Ritesh Pai, CEO of the international payments business, PhonePe
POSTED ON January 05, 2024 6:53 PM

Digital payments major PhonePe on Friday announced the appointment of Ritesh Pai as the CEO of the international payments business. Pai previously served as president of products and Solutions at TeraPay and was responsible for launching and implementing payment products and solutions globally.    

Before this, he served as senior group president and chief digital officer at Yes Bank (NS:YESB).   

Sameer Nigam, CEO and founder of PhonePe said, “Pai has been an early supporter of the company. Played a vital role in our early UPI success story. I am delighted that he has joined us to lead our international growth plans.”  

“I am confident that this same focus will help us expand beyond national borders, taking our payments technology to an international audience,” he said.   

PhonePe currently has 50 crore registered users and 3.7 crore merchants on its platform, covering more than 99 percent of postal codes across the country.   

The company has also expanded into financial services as well as tech-enabled businesses like Pincode and Indus App Store for hyperlocal shopping, India's first localised app store. 

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